Short Interest in Barnes Group Inc. (NYSE:B) Grows By 10.9%

Barnes Group Inc. (NYSE:B) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,420,000 shares, an increase of 10.9% from the August 15th total of 1,280,000 shares. Based on an average daily trading volume, of 332,800 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently issued reports on B shares. Truist Financial lifted their target price on Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, July 29th. DA Davidson lifted their price objective on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Oppenheimer boosted their target price on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 14th.

Barnes Group Price Performance

B stock traded up $0.22 during trading on Wednesday, hitting $38.25. 95,276 shares of the company’s stock traded hands, compared to its average volume of 314,053. Barnes Group has a 52 week low of $18.79 and a 52 week high of $45.24. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 422.56, a P/E/G ratio of 2.14 and a beta of 1.39. The business has a fifty day simple moving average of $39.30 and a 200 day simple moving average of $38.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24.

Barnes Group (NYSE:B) last released its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. As a group, research analysts expect that Barnes Group will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.67%. Barnes Group’s dividend payout ratio is currently 711.11%.

Institutional Trading of Barnes Group

Institutional investors and hedge funds have recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new position in Barnes Group in the second quarter worth approximately $714,000. Creative Planning lifted its position in Barnes Group by 13.8% during the second quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock valued at $1,053,000 after acquiring an additional 3,089 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new stake in Barnes Group in the second quarter valued at approximately $12,166,000. Mason Capital Management LLC grew its holdings in Barnes Group by 32.9% in the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock worth $43,484,000 after purchasing an additional 259,957 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Barnes Group during the second quarter worth $1,876,000. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.